Cement News tagged under: Attock Cement
Pakistan: Attock Cement sees 24% increase in quarterly profit29 January 2015, Published under Cement NewsAttock Cement reported a 24 per cent rise in profit during 2QFY14-15 of PKR554m (US$5.5m) compared to PKR449m in the same period of last year. First-half profit increased 15 per cent to PKR1025m against PKR871m in 1HFY13-14, the Pakistan-based producer reported. Net sales rose to PKR3193m in 2QFY15 compared to PKR3045m in 2QFY14, up by five per cent. First half sales rose seven per cent to PKR 6369m Gross margins also improved markedly by 33.04 per cent compared to 27.46 per cent dur... |
Pakistan: Attock Cement signs agreement for coal-fired plant06 January 2015, Published under Cement NewsAttock Cement Ltd and K-Electric have agreed to establish a 40MW coal-fired plant, enough to power the cement producer’s Pakistan-based plant while surplus electricity will be sold back to the grid. “Attock Cement has signed Memorandum of Understanding (MoU) with K-Electric for the installation of 40MW coal fired plant at its factory in Hub, Balochistan for its own utilisation and sell surplus power to K-Electric at a mutually agreed term and condition,” the cement manufacturer said in a b... |
Attock signs Iraq joint venture grinding agreement14 April 2014, Published under Cement NewsPakistan producer Attock Cement on Friday signed an agreement with Al-Keetan Trading and Commercial Agencies Ltd for a new 3000tpd grinding plant in Basra, Iraq. Babar Bashir Nawaz, chief executive of Attock Cement, said the projected cost is estimated at US$35m. Attock will hold a 60 per cent interest and Al-Keetan Trading, the remainder. The plant could become operational in a year’s time, Mr Nawaz added. |
Attock Cement first-half profit declines, Pakistan23 January 2014, Published under Cement NewsPakistan producer Attock Cement reported a nine per cent decline in net profit for the the first half of FY14 to PKR871m (US$8.26m). “The decline in profitability of the company is due to a higher tax rate,” JS Global Capital analyst Atif Zafar said, adding that inflationary pressures, particularly higher electricity rates in August last year negatively affected earnings. In the second quarter, earnings fell to PRK449m compared to PKR601m in the same quarter of FY13. However, going for... |
Attock Cement plans new grinding plant, Iraq28 May 2013, Published under Cement NewsAttock Cement plans to invest US$25m in a new grinding plant in the city of Basra, Iraq, making it the third Pakistan-based cement manufacturer to venture into the Middle East and Africa region. In a filing to the Pakistan Stock Exchange, Attock Cement said: "The board of directors of the company has approved the investment for putting up a Cement Grinding Unit in Basra, Iraq, subject to regulatory and other approval and compliance with all applicable laws, rules and regulations.” The pro... |
Attock Cement quarterly profit higher on increased prices, Pakistan17 April 2013, Published under Cement NewsPakistan-based producer Attock Cement reported a 40 per cent rise in profit during the January-March 2013 quarter, driven by higher prices. Profit rose to PKR520m (US$5.3m) during the period compared to PKR371m in the corresponding period of 2012. With cement demand subdued during the winter period, the advance was attributed to increased prices. Cement prices averaged PKR438/bag (US$4.45) against PKR402 in the corresponding quarter of 2012. Additionally, federal excise duty was reduced by... |